Bill Text: IL HB3854 | 2019-2020 | 101st General Assembly | Introduced

---

Bill Title: Amends the Illinois Pension Code. Provides that for a person who first becomes a member or participant in any retirement system or pension fund under the Code on or after the effective date of the amendatory Act, the total amount of the retirement annuity or pension benefits he or she may receive in any year shall not exceed $132,900; however, that amount shall annually thereafter be increased by the percentage increase (but not less than zero) in the consumer price index-u for the 12 months ending with the September preceding each November 1, including all previous adjustments. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2019-10-17 - Referred to Rules Committee [HB3854 Detail]

Download: Illinois-2019-HB3854-Introduced.html

---

101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 HB3854 Introduced , by Rep. Allen Skillicorn SYNOPSIS AS INTRODUCED:
40 ILCS 5/1-163 new
Amends the Illinois Pension Code. Provides that for a person who first becomes a member or participant in any retirement system or pension fund under the Code on or after the effective date of the amendatory Act, the total amount of the retirement annuity or pension benefits he or she may receive in any year shall not exceed $132,900; however, that amount shall annually thereafter be increased by the percentage increase (but not less than zero) in the consumer price index-u for the 12 months ending with the September preceding each November 1, including all previous adjustments. Effective immediately.
LRB101 12870 RPS 61705 b
FISCAL NOTE ACT MAY APPLY PENSION IMPACT NOTE ACT MAY APPLY
A BILL FOR
HB3854 LRB101 12870 RPS 61705 b
AN ACT concerning public employee benefits.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Pension Code is amended by adding
Section 1-163 as follows:
(40 ILCS 5/1-163 new)
Sec. 1-163. Limit on total retirement annuity amount.
Notwithstanding any other provision of this Code to the
contrary, for a person who first becomes a member or
participant in any retirement system or pension fund under this
Code on or after the effective date of this amendatory Act of
the 101st General Assembly, the total amount of the retirement
annuity or pension benefits he or she may receive in any year
shall not exceed $132,900; however, that amount shall annually
thereafter be increased by the percentage increase (but not
less than zero) in the consumer price index-u for the 12 months
ending with the September preceding each November 1, including
all previous adjustments.
For the purposes of this Section, "consumer price index-u"
means the index published by the Bureau of Labor Statistics of
the United States Department of Labor that measures the average
change in prices of goods and services purchased by all urban
consumers, United States city average, all items, 1982-84 =

HB3854 - 2 - LRB101 12870 RPS 61705 b
100. The new amount resulting from each annual adjustment shall
be determined by the Public Pension Division of the Department
of Insurance and made available to the boards of the retirement
systems and pension funds by November 1 of each year.
Section 99. Effective date. This Act takes effect upon
becoming law.